BEIJING, Feb. 11, 2011 (GLOBE NEWSWIRE) -- Mondas Minerals, Inc. (OTCBB:MNDM) announced today that the company has acquired 100 percent of Consumer Capital Group, Inc. ("CCG"), a California corporation on January 28, 2011. Through its wholly owned Chinese subsidiaries and contractual arrangements, CCG operates an online retailing platform business in China.
As a part of the merger, Mondas issued 17,777,778 of its common shares to the CCG shareholders. Principal shareholder of Mondas cancelled 1,388,889 of his shares and received $335,500 as a return from CCG. After the completion of the acquisition, Mondas has 18,888,887 shares of outstanding equity stock.
The sole officer and director of Mondas has resigned and the following individuals have been appointed as officers and directors of Mondas:
"We are pleased to be a part of the United States capital markets which will help to facilitate our growth plans in China," said Jianmin Gao, the Chairman, CEO and CFO of Consumer Capital Group, Inc.
About Consumer Capital Group
CCG is a PRC-based nationwide online retailing platform for Chinese consumers. The website provides an online marketing and retail platform for a wide variety of manufacturers and distributors. CCG promotes and sells products and services directly to consumers in the PRC at a substantial discount through our rewards and incentive programs. This platform eliminates the extended network of intermediaries in the manufacturing-distribution-retail chain by providing direct access to our members. Our website also provides access to certain Western products that are generally unavailable in the PRC such as handbags and eyewear made by U.S. companies and food and beverage products from Spain, Germany, and France.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on collaborative retail partners and on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
CONTACT: Investor Relations: NUWA GROUP, LLC Mr. Kevin Fickle Kevin@nuwagroup.com +1 (925) 330-8315